State Bank of Vietnam on November 7 issued an official letter approving the share offering of Dai A Commercial Joint Stock Bank (DaiABank), to raise the chartered capital to one trillion dong.

Dong Nai province’s bank will issue 50 million shares at 10,000 dong par to the existing shareholders and employees. Particularly, DaiABank’s existing shareholders will have the right to receive 18.4 million bonus shares at the ratio of 100:36.8 (368 new shares for 1,000 shares held), and buy 30 million shares according to the ratio 10:6 with the price equalling to face value. Meanwhile, the employees will have a right to receive another 100,000 bonus shares, and take the remaining 1.5 million shares.

The share allocation time is within 90 days from receiving the SBV’s approval. If all shares are allocated, the bank’s chartered capital will double from 500 billion dong to one trillion dong.